Portugal
Cryptocurrency Tax Information
Portugal taxes cryptocurrency gains and income since 2023 budget law. Capital gains are exempt if assets held over 365 days. Shorter holdings and crypto income face taxes.
• Taxable when sold or exchanged within 365 days.
• Exempt if held over 365 days.
• No thresholds; flat 28% on gains under 365 days.
• FIFO method for cost basis; losses offset gains.
• Staking rewards taxed as income upon receipt.
• Airdrops, forks, and other crypto income treated as miscellaneous income.
• Progressive rates apply; professional activities may qualify for deductions.
• Report by April 30 for previous year.
• Use Modelo 3 form; keep records of transactions.
• Deadlines: June 30 for submission if online.
• No VAT on crypto-to-crypto trades for non-professionals.
• Recent 2023 changes ended full tax haven status for crypto.
• Consult local tax authority for personalized advice.
Portugal Ends Crypto Tax Exemption
Portugal's 2023 budget introduces 28% tax on short-term crypto gains, ending its status as a tax haven. Long-term holdings remain exempt.
January 15, 2023
New Crypto Tax Rules in Portugal
The Portuguese government clarifies taxation on staking and mining as income. Rates range from 14.5% to 48% for residents.
March 22, 2023
Impact of Portugal's Crypto Tax on Investors
Investors face new reporting requirements for crypto gains. Experts advise on compliance strategies.
May 10, 2023
Portugal Updates NHR Program for Crypto
Non-Habitual Residents may benefit from reduced taxes on crypto income. Changes aim to attract digital nomads.
July 8, 2023
EU Influence on Portugal Crypto Taxes
Portugal aligns with EU directives on crypto taxation. Focus on anti-money laundering and transparent reporting.
September 14, 2023
Portuguese Tax Authority Issues Crypto Guidelines
New guidelines detail how to calculate crypto capital gains. Emphasizes record-keeping for audits.
November 20, 2023
Crypto Traders Flee Portugal Over Taxes
Some investors are relocating due to new tax regime. Analysts predict minimal impact on economy.
January 5, 2024
Portugal's 2024 Budget and Crypto
No major changes to crypto taxes in latest budget. Stability expected for long-term holders.
February 18, 2024
Staking Taxation Clarified in Portugal
Tax office confirms staking rewards as taxable income. Provides examples for calculation.
April 12, 2024
Future of Crypto Taxes in Portugal
Experts discuss potential adjustments to align with global standards. Emphasis on innovation-friendly policies.
June 3, 2024
Disclaimer: This information is AI-generated and for educational purposes only. Tax laws are complex and subject to change. Always consult with a qualified tax professional for advice specific to your situation.